DEMOCRATIC REPUBLIC OF CONGO (DRC) – HOW PRESIDENT KABILA’S BROTHER STASHED MILLIONS IN OVERSEAS PROPERTIES

A report from The Sentry says that although President Joseph Kabila’s final term as head of the DRC was set to end in December 2016, he clung to power and delayed elections for another 2 years.  Meanwhile, his brother Francis Selemani purchased numerous luxury homes in the US and South Africa, it appears at least in part using funds diverted from the government.  Selemani was MD of BGFIBank DRC, the Congolese subsidiary of Gabon-based BGFIBank Group.  It is claimed that Selemani and the Kabila family used a network of companies and the bank they controlled to misappropriate public funds, transferring millions abroad and purchasing millions of dollars in foreign real estate.

https://cdn.thesentry.org/wp-content/uploads/2021/11/EmbezzledEmpire-TheSentry-Nov2021.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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